$Tegna (TGNA.US)$ Revenue fell 43% in 2017, then continued t...

Revenue fell 43% in 2017, then continued to grow for 4 years, but was still below the previous high. Operating profit fluctuated to 800 million yuan after falling 45% in 2017, with a growth rate of 9.8% in the past 4 years; net profit fluctuated to 478 million after falling 55.9% in 2017, with a growth rate of 22% in the past 4 years.

2022 Q1 revenue, operating profit, and net profit increased 6.5%, 7.5%, and 19% respectively.

The income statement shows that interest expenses account for 23% of operating profit, which is slightly higher. The company's other profit and loss accounts for relatively small, and net profit is relatively easy to predict. The return on net assets for the past 5 years has basically been around 20%, which is pretty good.

The balance ratio has continued to decline over the past 5 years, from 80% to 61.55%. Accounts receivable of 655 million dollars account for 22% of revenue, and there are also certain prepaid expenses, which indicates that the company's market position is not very strong. There are no inventory issues.

Goodwill and other intangible assets of $5.408 billion, accounting for 79% of assets, double the net assets of $2,635 million. This is a characteristic of this industry.

Net operating in the past 5 years has basically offset net investment, and cash flow has remained basically flat. The flow ratio and velocity ratio are also healthy.

Taken together, in recent years, revenue has driven profit growth, and the net profit growth rate is about 20%. Currently, the price-earnings ratio of 9.8 times can be carefully selected (⭐️)